VIDEO: Hostage standoff at Beirut bank ends after gunman allowed to take part of his savings for father’s medical bill

Gulf Today Report

A hostage standoff in which a gunman demanded a Beirut bank let him withdraw his trapped savings has ended with the man’s surrender and no injuries.

Authorities said 42-year-old Bassam Al-Sheikh Hussein entered the bank branch with a shotgun and a canister of gasoline and threatened to set himself on fire unless he was allowed to take out his money.

After hours of negotiations, he accepted an offer from the bank to receive part of his savings, according to local media and a depositors group that took part in the talks.

He then released his hostages and surrendered.

“Al Jadeed” channel (non-government) stated that Hussein is demanding the return of his financial deposit, which is estimated at $210,000, along with his brother's deposit, which is $500,000, which have been held in the bank since the beginning of the Lebanese economic crisis.

“It was said that Hussein tried to obtain part of his deposit in order to treat his father, who needs surgery, but the bank refused to give him the required amount for that, which led to resort to arms,” the TV channel reported.

The local media also reported that Hussein had shot inside the bank at least twice, causing panic among the hostages. In the meantime, the Lebanese army and security forces cordoned the area with a security deployment in front of the bank.

For nearly two years, Lebanon's banks have imposed restrictions on depositors' money in foreign currency, especially the dollar, with a severe cap on withdrawing money in the local currency.

Since 2019, the Lebanese have been experiencing an unprecedented severe economic crisis that has led to a record collapse in the value of the local currency against the dollar, as well as a shortage of fuel and medicine, and the collapse of their purchasing power.